Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Turkey calls on parents to report Erdogan critics at German schools

Turkish consulates in Germany have been organizing events for Turkish parents and asking them to spy on critics of the President Recep Tayyip Erdoğan and Turkey at German schools, according to an education trade union, GEW (Gewerkschaft Erziehung und Wissenschaft).

US intel director: Turkish purge impeding fight against ‘Islamic State’

Turkey’s purge has removed military officers who’d been key figures in the US-led fight against the so-called “Islamic State,” says US intelligence head James Clapper. He called it a setback in US-Turkish cooperation.

Islamic scholar Gülen rebukes ISIL over ‘brutal atrocities’

Gülen said in a statement on Thursday, released by the Alliance for Shared Values, an umbrella body of instutitions linked to the Gülen movement, that he “deplored the brutal atrocities” by the terrorist group “hiding behind a false religious rhetoric.” He joined the “people of conscience” from around the world in calling for these perpetrators to immediately cease their “cruel and inhuman acts.”

Islamic scholar Gülen offers condolences to ferry victims

Prominent Islamic scholar Fethullah Gülen, who also inspired the faith-based Hizmet movement, issued a message of condolence to the families of victims who were killed when a ferry sank off in South Korea, leaving more than 300 missing or dead.

Turkish army profiled Tahşiyeciler as serving al-Qaeda

The 13 March 2009 report, prepared by Turkish General Staff Intelligence Unit Head, Lieutenant General Hakkı Pekin, reveals the Tahşiyeciler group’s ideology strongly aligned with al-Qaeda, viewing its leader Osama Bin Laden as Mahdi, the prophesied redeemer of Islam.

US law professor: Gülen extradition would be unlawful

Seval Yıldırım, a professor of law at Whittier Law School, said in a statement to Today’s Zaman on Wednesday that for the US to extradite Turkish Islamic scholar Fethullah Gülen without a formal case against him would be an infringement of US law.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Anatolia in Los Angeles

Lynching of the Hizmet movement by the hand of the state

With happy life left behind, hardship awaits us as exiled family

Why are they becoming terrorists?

German ambassador: Berlin does not recognize Gülen movement as ‘terrorist’ group

Turkish NGO Kimse Yok Mu handed over 296 houses for flood affectees

Hizmet Relief ends Cataract Campaign, starts Water Well Campaign

Copyright 2026 Hizmet News